Capital & Centric set to buy prominent Stockport mill
Capital & Centric is understood to have exchanged contracts to buy Weir Mill in Stockport from Maryland Securities, and is planning a residential conversion.
One of the town’s most prominent sites, the mill sits next to the viaduct and falls within the Stockport Town Centre West masterplan, which is being promoted by the council as having potential to bring forward 3,500 homes.
There has been no comment from Maryland or Capital & Centric.
Maryland revealed plans for the site at the start of 2019, with architect Hodder & Partners designing a scheme totalling nearly 300 apartments.
The proposals were for two new-build blocks, as well as the retention and conversion of two of the mill buildings. While an application was submitted, the.
The plot includes a number of grade two-listed mill buildings, some built in the late 1700s.
The site has been earmarked for residential development for a number of years; however a scheme was not brought forward due to challenges around viability.
Proposals from 2019 from Hodder & Partners
The scheme is understood to eligible for part of the £5.6m of Housing Infrastructure Fund money allocated to Stockport Council.
According to planning documents submitted with the Hodder scheme, without the funding, the site “will not be able to be regenerated and brought forward for development”.
Capital & Centric has become well known for many listed mill projects in central Manchester, including the £50m Crusader near Piccadilly station, Talbot Mill in Castlefield, and the refurbishment of the London Warehouse aparthotel on Ducie Street. The Weir Mill project would represent the developer’s first residential scheme in a Greater Manchester town.
Cllr Elise Wilson, leader of Stockport Council, said: “Weir Mill is a key site within the Mayoral Development Corporation area and both Stockport Council and the Mayoral Development Corporation are keen to see it come forward to deliver the ambitions of the MDC as set out in the Strategic Regeneration Framework. We are keen to work with developers with a track record of delivery of high quality schemes and look forward to discussions in due course.”
The purchase price is undisclosed.
I hope they’ve appointed a planning consultant who understands the use of vacant building credits – it shouldn’t be taken for granted that the Local Authority will understand the part they play in the viability argument.
By Anonymous
as a stopfordian resident, if capital & centric do a london warehouse style conversion on this I’ll be delighted, but this mill has long suffered from viability issues so I’m not holding my breath!
By Dom Lyons
Living next to the M60, under the flight path to Man airport, under the main line railway bridge and floating next to the Mersey.
Trust the developer has some good ideas and sales people.
By CBA,
it’s a tricky one, I agree with the CBA comment but the C&C crowd have a better chance than anyone given their previous projects
By Peter Jones
Being located close to the M60, Manchester to London rail line and under the flight path should be seen as an opportunity not a barrier to sales. Can see loads of potential with this development for key worker accommodation young professionals etc.
By ISH
Could I have one of the flats in the dark underneath the dirty arches please?
By James Yates
It’s an exciting project for Stockport as long as it’s viable. A long time coming! There’s a lot that needs doing for the rejuvenation of Stockport and this could play a major part in it.
By Lorraine Spencer
Been waiting for this.long overdue.well done.
By Gladys Barratt
Let’s see if this inward looking council inserts a clause to use much needed local labor during construction instead of bringing in developers and architects friends down south
By Tony
as long as it doesn’t smell of cannabis that once was illegally grown there.
By rd
Dump
By Alan
I thought that was the A6. It isn’t!
By Tony Heyes
If anyone’s going to make this work, it will be Capital & Centric
By SW